U.S. Economic News

October 24, 2019

U.S. Economic Indicators

New orders of manufactured durable goods declined 1.1% in September after rising 0.3% (revised) in August and are down 0.8% compared to a year ago. Excluding transportation, new orders fell 0.3% (up 0.8% from last year). Census Bureau Report

New home sales fell 0.7% to a seasonally adjusted annual pace of 701,000 in September but were 15.5% above the September 2018 rate. The median sales price fell to $299,400, and the inventory of new homes was unchanged at 5.5 months at the current sales rate. Census Bureau Report

Initial jobless claims fell 6,000 to 212,000 last week. The four-week moving average fell 750 to 215,000. DOL Report

U.S. News

According to the Wall Street Journal, stagnating or declining business activity across developed economies in the fourth quarter suggests that the recent wave of interest rate cuts by central banks has yet to turn around a slowing global economy. Factories around the world are struggling under the weight of tariffs and slowing investment as both businesses and customers opt to wait out a lengthening period of trade uncertainty. WSJ